LodgeNet starts roadshow Thursday for $185 million 10-year notes

By Paul A. Harris

St. Louis, June 3 - LodgeNet Entertainment Corp. begins a roadshow Thursday for an offering of $185 million of senior subordinated notes due 2013, according to a syndicate source.

The roadshow is expected to conclude on June 11, the source added.

Bear Stearns & Co. is the bookrunner for the off-the-shelf deal. UBS Warburg and CIBC World Markets are co-managers.

The notes will be non-callable for five years and contain a 35% equity clawback for up to three years

Proceeds will be used to repay debt.

The company is a Sioux Falls, S.D.-based broadband and interactive services provider to the lodging industry.

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